CEZAR & PAWEL
ActiveCEZAR & PAWEL has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €93k and a net result of €10k. Equity is growing by ~16.8% per year across the filed fiscal years. Its solvency ranks better than 55% of 7391 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▼-7
Solvency73▼-27
Growth52=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 1.91 against 4.05 in 2024; short-term debt: 19% and cash: 3.9% of total assets), but 52.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
47.9%
Return on assets
5.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
38 d early
2023
56 d early
2022
59 d early
2021
53 d early
2020
53 d early
2019
24 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€93k▲ 12.5%
2024 · €82k
2018: €36k
2019: €37k
2020: €39k
2021: €48k
2022: €58k
2023: €72k
2024: €82k
2018 → 2025
Total assets
€193k▲ 98.3%
2024 · €98k
2018: €73k
2019: €84k
2020: €92k
2021: €116k
2022: €104k
2023: €113k
2024: €98k
2018 → 2025
Net result
€10k▼ 2.3%
2024 · €11k
2018: €19k
2019: €2k
2020: €2k
2021: €9k
2022: €10k
2023: €14k
2024: €11k
2018 → 2025
Working capital
€34k▼ 27.7%
2024 · €46k
2018: €31k
2019: €29k
2020: €34k
2021: €5k
2022: €25k
2023: €43k
2024: €46k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€48k-€58k▲ 20.8%€72k▲ 24.5%€82k▲ 14.7%€93k▲ 12.5%
Operating result€14k-€14k▲ 1.6%€20k▲ 40.9%€16k▼ 18.9%€17k▲ 2.9%
Net result€9k-€10k▲ 13.2%€14k▲ 42.3%€11k▼ 25.4%€10k▼ 2.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 3% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €193k
Fixed assets
€123k▲ 242%
Current assets
€70k▲ 14.2%
Equity and liabilities €193k
Equity
€93k▲ 12.5%
Debt
€101k▲ 563%
The debt ratio rises from 15.6% to 52.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€34k▲
2024 · €32k
Cash flow
€28k▲
2024 · €26k
Solvency
47.9%▼
2024 · 84.4%
Current ratio
1.91▼
2024 · 4.05
Quick ratio
1.91▼
2024 · 4.05
Debt / equity
1.09▲
2024 · 0.18
ROE
11.1%▼
2024 · 12.8%
ROA
5.3%▼
2024 · 10.8%
Interest coverage
19.48▼
2024 · 22.28
Debt
€101k▲
2024 · €15k
Debt ≤ 1 year
€37k▲
2024 · €15k
Debt > 1 year
€64k
Income taxes
€5k▲
2024 · €4k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€98k€193k▲
Fixed assets21/28€36k€123k▲
Tangible fixed assets22/27€36k€123k▲
Plant, machinery and equipment23€718€310▼
Furniture and vehicles24€35k€123k▲
Current assets29/58€62k€70k▲
Amounts receivable within one year40/41€41k€57k▲
Trade receivables40€30k€56k▲
Other amounts receivable41€11k€1k▼
Cash at bank and in hand54/58€17k€8k▼
Deferred charges and accrued income490/1€3k€6k▲
Equity and liabilities
Total equity and liabilities10/49€98k€193k▲
Equity10/15€82k€93k▲
Contributions10/11€20k€20k=
Reserves13€20k€29k▲
Distributable reserves133€20k€29k▲
Profit (loss) carried forward14€42k€43k▲
Amounts payable17/49€15k€101k▲
Amounts payable after more than one year17-€64k
Financial debts170/4-€64k
Amounts payable within one year42/48€15k€37k▲
Current portion of amounts payable after more than one year42-€16k
Trade debts44€8k€11k▲
Suppliers440/4€8k€11k▲
Taxes, remuneration and social security45€6k€11k▲
Taxes450/3€2k€6k▲
Remuneration and social security454/9€4k€4k=
Other amounts payable47/48€1k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€17k▲
Other operating charges640/8€3k€8k▲
Non-recurring operating charges66A-€5k
Gross operating margin9900€34k€47k▲
Operating profit (loss)9901€16k€17k▲
Financial income75/76B€79-
Recurring financial income75€79-
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€15k€15k▲
Income taxes67/77€4k€5k▲
Profit (loss) for the period9904€11k€10k▼
Profit (loss) for the period to be appropriated9905€11k€10k▼
Appropriation of the result
Profit (loss) to be appropriated9906€52k€53k▲
Profit (loss) brought forward from the previous period14P€41k€42k▲
Transfer to equity691/2€10k€10k=
To other reserves6921€10k€10k=
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
12-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
02-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €2k ▼91.9%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Etterbeek · 1 establishment unit since 2007
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Witte Patersstraat 491040 EtterbeekGround area
219 m²
Building footprint
190 m²
Volume, LiDAR
2,153 m³
2 parcels, Brussels · tallest building 14.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Cezar & Pawel
since 20072.164.948.641
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21002A0095/00G013 | Brussels | 113 m² | 1 · 109 m² | 12.2 m · 4 fl. |
| 21363B0344/00W005 | Brussels | 107 m² | 1 · 81 m² | 14.0 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,801 companies in sector 41001 we hold annual accounts for 16,039. 13,170 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-08-2007
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
45211
43211General electrical installation work
43230Insulation installation
43291Specialised construction activities
43310Plastering work
45212
45310
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:cezar.pawel@yahoo.fr
Phone:0477315651